Why nobody interested in such minimal damage projects in India
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| 21 July 2008 |
Tata Power buys 26 per cent stake in Bhutan power project
Mumbai: Tata Power Co Ltd has acquired a 26 per cent stake in Druk Green Power Corporation Ltd (DGPC) - the 114 MW run-of-the-river Dagachhu hydroelectric power project - being developed by the Bhutan government.
The project will be executed through a special purpose vehicle, Dagachhu Hydro Power Corp Ltd (DHPC), it said.
''We are happy to work with the Royal Government of Bhutan on the Dagachhu Hydro Electric Power project. This partnership consists of equity participation and offtake of power by the company and Tata Power Trading Company Ltd respectively,'' said Prasad Menon, managing director of Tata Power.
Tata Power Trading has agreed to purchase all the power generated from the project and Tata Power Trading will offtake power from the project for a period of 25 years. The power will be delivered at India-Bhutan Border.
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